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Australian (ASX) Market Analysis & Valuation

UpdatedJul 16, 2026
DataAggregated Company Financials
Companies1565
  • 7D0.7%
  • 3M-1.4%
  • 1Y2.3%
  • YTD-0.1%

Over the last 7 days, the market has remained flat, although notably the Energy sector gained 7.2% in that time. In line with that, the market has also been flat over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Australian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Jul 2026AU$3.0tAU$1.2tAU$114.3b16.9x25.9x2.5x
Sat, 13 Jun 2026AU$2.9tAU$1.2tAU$114.0b17.3x25.8x2.4x
Mon, 11 May 2026AU$2.9tAU$1.2tAU$111.9b17.4x26.2x2.5x
Wed, 08 Apr 2026AU$2.9tAU$1.2tAU$114.4b17.3x25.5x2.4x
Fri, 06 Mar 2026AU$3.0tAU$1.2tAU$111.1b19.7x27x2.5x
Sun, 01 Feb 2026AU$3.0tAU$1.2tAU$108.3b21.5x27.8x2.5x
Tue, 30 Dec 2025AU$3.0tAU$1.2tAU$109.8b21.7x27x2.5x
Thu, 27 Nov 2025AU$2.9tAU$1.2tAU$110.6b21.5x26.4x2.4x
Sat, 25 Oct 2025AU$2.9tAU$1.2tAU$103.6b21.8x28.2x2.5x
Mon, 22 Sep 2025AU$3.0tAU$1.2tAU$110.9b20.7x26.8x2.5x
Wed, 20 Aug 2025AU$3.0tAU$1.2tAU$103.0b19x29.2x2.5x
Fri, 18 Jul 2025AU$2.9tAU$1.2tAU$102.8b18.4x28.3x2.4x
Sun, 15 Jun 2025AU$2.9tAU$1.2tAU$102.7b18.1x27.8x2.4x
Tue, 13 May 2025AU$2.8tAU$1.2tAU$103.7b17.9x26.5x2.3x
Thu, 10 Apr 2025AU$2.5tAU$1.2tAU$106.8b16.3x23x2x
Sat, 08 Mar 2025AU$2.7tAU$1.2tAU$104.8b17.8x25.3x2.2x
Mon, 03 Feb 2025AU$2.8tAU$1.2tAU$90.2b19.8x31.3x2.4x
Wed, 01 Jan 2025AU$2.7tAU$1.2tAU$90.1b19.9x30x2.3x
Fri, 29 Nov 2024AU$2.8tAU$1.2tAU$88.4b19.2x31.5x2.4x
Sun, 27 Oct 2024AU$2.7tAU$1.2tAU$88.3b19.9x30.7x2.3x
Tue, 24 Sep 2024AU$2.7tAU$1.2tAU$87.7b19.4x30.9x2.3x
Thu, 22 Aug 2024AU$2.6tAU$1.1tAU$89.3b20.1x29.6x2.3x
Sat, 20 Jul 2024AU$2.6tAU$1.2tAU$91.2b19.2x29x2.3x
Mon, 17 Jun 2024AU$2.6tAU$1.2tAU$92.4b18.9x27.9x2.2x
Wed, 15 May 2024AU$2.6tAU$1.2tAU$93.1b19.6x27.7x2.2x
Fri, 12 Apr 2024AU$2.6tAU$1.2tAU$95.1b20.4x27.4x2.2x
Sun, 10 Mar 2024AU$2.6tAU$1.2tAU$96.5b19.6x27.2x2.2x
Tue, 06 Feb 2024AU$2.5tAU$1.2tAU$118.2b19x21.5x2.2x
Thu, 04 Jan 2024AU$2.5tAU$1.2tAU$115.1b18.8x22x2.2x
Sat, 02 Dec 2023AU$2.4tAU$1.2tAU$115.9b18x20.4x2x
Mon, 30 Oct 2023AU$2.3tAU$1.2tAU$119.8b17.4x19.2x1.9x
Wed, 27 Sep 2023AU$2.4tAU$1.2tAU$120.3b17.7x19.8x2x
Fri, 25 Aug 2023AU$2.4tAU$1.2tAU$124.6b17.4x19.4x2.1x
Sun, 23 Jul 2023AU$2.5tAU$1.2tAU$144.9b16.6x17x2.1x
Price to Earnings Ratio

17x


Total Market Cap: AU$2.5tTotal Earnings: AU$144.9bTotal Revenue: AU$1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 26.2x202420252026
Current Market PE
  • Investors are relatively neutral on the Australian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 26.2x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 7.5% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market0.67%
Energy3.40%
Materials2.53%
Utilities0.70%
Financials0.54%
Consumer Discretionary0.17%
Telecom0.13%
Industrials-0.37%
Healthcare-0.72%
Tech-1.35%
Consumer Staples-1.69%
Real Estate-1.84%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.3%, which is higher than its past year's earnings growth of 10.8% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 170x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 22% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Financials sector is expected to see its earnings grow by 4.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
BHP BHP GroupAU$60.565.3%
+AU$15.5b		54.8%PE21xMaterials
CBA Commonwealth Bank of AustraliaAU$170.001.1%
+AU$3.0b		-4.3%PB3.7xFinancials
MQG Macquarie GroupAU$258.162.4%
+AU$2.3b		15.9%PE20.3xFinancials
FMG FortescueAU$19.083.7%
+AU$2.1b		13.2%PE11xMaterials
WDS Woodside Energy GroupAU$29.933.7%
+AU$2.0b		23.8%PE14.6xEnergy
See more

Market Insights

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Latest News

WES
AU$90.88
Wesfarmers
7D
0.8%
1Y
9.9%
Narrative Update • Jul 15

WES: Execution Discipline And Integration Plans Will Shape Future Pricing Confidence

Analysts have lifted their fair value estimate for Wesfarmers to A$89.00 from A$85.00, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations, even as some research houses flag a less favourable risk reward at current valuation levels. Analyst Commentary on Wesfarmers Recent research on Wesfarmers highlights a split in views, with some investors focusing on the raised A$89.00 fair value estimate while others point to more cautious commentary around the current share price.
WOW
AU$39.35
Woolworths Group
7D
-1.4%
1Y
26.5%
Narrative Update • Jul 13

WOW: New Price Gouging Laws Will Pressure Margins And Future Returns

Analysts have increased their Woolworths Group price target to A$35.59 from A$34.84, citing revised assumptions for revenue growth, discount rate, profit margin and future P/E. What’s in the News for Woolworths Group Australia is introducing new price gouging laws from July 1 that apply to major supermarkets with annual turnovers above A$30b, including Woolworths Group and Coles, with the ACCC overseeing compliance and penalties of up to the greater of A$10m, three times the benefit gained, or 10% of annual turnover.
WDS
AU$29.93
Woodside Energy Group
7D
3.7%
1Y
23.8%
Narrative Update • Jul 13

WDS: Future Cash Flows Will Rely On Executing Major LNG Projects

Analysts have lifted their price target for Woodside Energy Group to A$33.10 from A$31.69, citing updated assumptions for revenue growth, profit margins, a slightly higher discount rate, and a lower future P/E multiple. Analyst Commentary Recent research on Woodside Energy Group highlights both opportunities and risks that help explain the updated A$33.10 price target.
COL
AU$22.69
Coles Group
7D
-3.1%
1Y
11.3%
Narrative Update • Jul 13

COL: Digital Expansion And Automation Are Expected To Sustain Fair Value

Analysts have nudged their fair value estimate for Coles Group higher, with the price target moving from A$22.94 to about A$23.40. This reflects updated assumptions around revenue growth, discount rate and future P/E, alongside a slightly lower profit margin outlook.
MQG
AU$258.16
Macquarie Group
7D
2.4%
1Y
15.9%
New Narrative • Jul 12

Macquarie Worth Banking On?

At A$219.394 per share, Macquarie Group (ASX: MQG) appears reasonably valued based on its current operating performance. Macquarie reported FY26 net profit of A$4.85 billion, an increase of 30% from FY25, while net operating income increased by 13% to A$19.48 billion.
BHP
AU$60.56
BHP Group
7D
5.3%
1Y
54.8%
New Narrative • Jul 11

Does BHP Have the Metal? More Ore in Store?

At A$47.93 per share, BHP Group (ASX: BHP) appears reasonably valued based on its current operating performance. For the six months to 31 December 2025, BHP reported revenue of US$27.9 billion, underlying EBITDA of US$15.5 billion and underlying attributable profit of US$6.2 billion, with an underlying EBITDA margin of 58.4%.
PME
AU$192.62
Pro Medicus
7D
-9.2%
1Y
-41.7%
Narrative Update • Jul 10

PME: Elevated Market Share Expectations Will Pressure Future Share Returns

Pro Medicus' analyst price target has been revised to A$192.60 from A$147.00, with analysts pointing to updated assumptions around long term market share in the US PACS segment and a reassessment of how much growth is already reflected in the current share price. What's in the News for Pro Medicus Pro Medicus has drawn renewed attention after a 33.15% share price decline over the past year, with recent commentary highlighting a valuation reset as a key factor in shifting sentiment.
CBA
AU$170.00
Commonwealth Bank of Australia
7D
1.1%
1Y
-4.3%
Narrative Update • Jul 09

CBA: Premium P E And Margin Pressure Will Likely Cap Future Returns

Analysts have trimmed their fair value estimate for Commonwealth Bank of Australia to about A$97 from roughly A$100, reflecting updated assumptions that include a higher discount rate, slightly stronger revenue growth expectations, a lower profit margin outlook, and a higher future P/E multiple. Analyst Commentary Recent fair value adjustments for Commonwealth Bank of Australia point to a more mixed analyst backdrop, with some commentary highlighting risks around valuation, profit margins, and the balance between growth and capital discipline.
CSL
AU$121.75
CSL
7D
-2.1%
1Y
-50.8%
Narrative Update • Jul 09

CSL: Roofing Platform Repricing Will Drive Future Rebound Case

Analysts have reduced their price target on CSL to about A$196.66 from about A$289.37, citing updated assumptions around discount rates, profit margins, and future P/E expectations. Analyst Commentary Recent research around CSL highlights a split in views, with some cautious adjustments to assumptions and at least one downgrade, while other coverage of the broader roofing sector points to potential catalysts that investors may still weigh when assessing CSL.
XRO
AU$68.27
Xero
7D
-7.7%
1Y
-61.2%
FMG
AU$19.08
Fortescue
7D
3.7%
1Y
13.2%
Narrative Update • Jul 08

FMG: Rising Decarbonisation Capex Will Pressure Future Cash Flows And Returns

Analysts have modestly lifted their fair value estimate for Fortescue to about A$15.33 from A$14.84, while noting that higher mine replacement and decarbonization spending could weigh on future cash flows and support a lower forward P/E assumption. What's in the News for Fortescue Chinese authorities, through China Mineral Resources Group, have extended restrictions on Fortescue’s lower grade iron ore shipments, limiting access for some steel mills from 15 July and raising commercial and geopolitical risks for one of Fortescue’s key export markets.
BXB
AU$18.77
Brambles
7D
-3.0%
1Y
-19.8%
Narrative Update • Jul 07

BXB: Share Pullback And Buyback Activity Will Support Future Upside Potential

Analysts have trimmed their Brambles fair value estimate from about A$27.62 to A$26.85. This reflects slightly softer assumptions on revenue growth and profit margins, even as recent upgrades to Neutral and Buy highlight improved valuation support after the share pullback.
SIG
AU$2.93
Sigma Healthcare
7D
4.6%
1Y
6.5%
GMG
AU$29.25
Goodman Group
7D
-3.1%
1Y
-14.4%
WBC
AU$36.58
Westpac Banking
7D
0.9%
1Y
9.8%
NAB
AU$39.27
National Australia Bank
7D
-0.8%
1Y
2.6%